Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2205 W Wabash Ave, Unit 260 Springfield, IL 62704

    Sponsored
    For Lease
    Contact for pricing

    COMMERCIAL - Springfield, IL

    Lot size:
    2.26 Acres
    Days on Market:
    50
    Last Refresh:
    Feb 22 at 1:06 pm

    Property Features for 2205 W Wabash Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    S-2
    APN
    22070252006
    Lot size
    2.26 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Zoned, Forced Air
    Cooling system
    Multi Units, Central Air

    Building Details

    Year built
    1986
    Floors in Building
    2
    Flooring type
    Tile, Carpet
    Building materials
    Brick
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Ben Call
    Ben Call

    The Real Estate Group, Inc. (217) 787-7000

    Listing agent Ben Call

    Listing date Jan 4, 2026

    MLS# CA1030408

    Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Springfield Office Space For Lease

    Professional office space ranging from 488 to 3495 square feet is available for lease on the second floor. The property is located on West Wabash, a few blocks from White Oaks Mall. The space consists of nine separate suites, with the possibility of combining them to meet specific needs. Tenant improvements are negotiable with acceptable lease terms, and a build-to-suit option is available. The restrooms have been renovated, and new windows and HVAC systems have been installed. The building provides 24-hour security with pin code access to the front and rear doors. The property is zoned S-2 and is situated on a 2.26-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Flooring of Springfield Inc. Carpet & Flooring Store Loren W. Richie, ... Alternative Medicine Practice Suite 108 Hair ... Hair Salon Titan Games - Springfield Electronics & Wireless Store Knit Wits (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.695132
    Latitude
    39.764631

    Nearby Similar for Lease

    • Sponsored
      New
      Contact for pricing

      Westbrook Corporate Center

      Discover many ways to work your way in Westbrook Corporate Center
      1 Westbrook Corporate Ctr, Westchester, IL 60154
      View Details
    • New
      Contact for pricing

      Professional Arts Office Building Available

      Office spaces available in a high-visibility Westchester building.
      10540 W Cermak Rd, Westchester, IL 60154
      View Details
    • Contact for pricing

      Office Space in Westchester, IL

      Office space available for rent in Westchester, Illinois.
      9825 W Roosevelt Rd, Westchester, IL 60154
      View Details
    • Contact for pricing

      Office Space in Westchester, IL

      Office space available for rent in Westchester, Illinois.
      9825 W Roosevelt Rd, Westchester, IL 60154
      View Details
    • Contact for pricing

      Updated Office Space Available

      Updated office space with utilities included and 24-hour security.
      9825 W Roosevelt Rd, Westchester, IL 60154
      View Details
    • Contact for pricing

      Springfield Commercial Space For Lease

      Office, retail, or warehouse space available in Springfield, Illinois.
      3001 W White Oaks Dr, Springfield, IL 62704
      View Details
    • Contact for pricing
      47,045 SF

      Class A Office Space

      Office space available for rent in Springfield, Illinois.
      2451 W Monroe St, Springfield, IL 62704
      View Details
    • Contact for pricing
      80,586 SF

      Turn-Key Bar/Retail Space Available

      Prime West Springfield location, ready for immediate operation.
      4117 Wabash Ave, Springfield, IL 62711
      View Details
    • Contact for pricing
      25,700 SF

      Downtown Springfield Office Space Available

      Over 11,000 SF of well-kept office space for lease.
      110 W Lawrence Ave, Springfield, IL 62704
      View Details
    • Contact for pricing

      Commercial Space with Auto Potential

      2921 SF commercial space suitable for automotive or other businesses.
      3316 Robbins Rd, Springfield, IL 62711
      View Details
    • Contact for pricing
      10,019 SF

      Historic Springfield Restaurant Opportunity

      Landmark 7,000 sq ft building near Statehouse for lease.
      620 S 1St St, Springfield, IL 62704
      View Details
    • Contact for pricing
      55,321 SF

      Retail Space in Springfield, IL

      Retail space available for lease in Springfield, Illinois.
      3100 Walton Dr, Springfield, IL 62702
      View Details

    FAQs

    What type of property is this?
    Office space - Professional office space for lease with elevator access.
    Where is this office space located?
    The property is located at 2205 W Wabash Ave, Unit 260 Springfield, IL.
    What are key features of this property?
    This property features: - Flexible office space: 488-3495 sq ft, with 9 suites that can be combined.; - Prime location: High exposure on West Wabash, near White Oaks Mall.; - Modernized Amenities: Enjoy renovated restrooms, new windows, and new HVAC.
    (217) 341-9397
    Request Owner's contact information
    2205 W Wabash Ave, Unit 260 Springfield, IL 62704
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2205 W Wabash Ave, Unit 260
    Springfield, IL 62704
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2205 W Wabash Ave, Unit 260 Springfield, IL 62704
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ben Call
    Ben Call
    Real Estate License ID: 475139475
    (217) 341-9397 (217) 787-7000
    Learn more
    Google sign-in failed. Please try again or use another login method.